Im a new investor. Seller financing a duplex? Is it a deal?

[Ruben Feletoa]

So I’m looking at a duplex asking price 339999. My strategy is to buy and hold.

The appraisal value is 365k

Repairs will take cost me about 40k

Rents go for 900 per door after repair I can get 1100-1300 it’s a 2 bed 1 bath about 1600 sq ft.

What are the benefits of seller finance?

The seller is offer is If you are able to put $60,000 down, I'll put the price at $334,000. That will leave you with a balance of $275,000. We'll set payments based on a 30 yr amortized loan at 5.45%, but the loan will be due November 2023. That will give you four years and then you can refinance it at that time. With principal, interest, taxes and insurance, the payment would be $1,819.47 per month.

Any thoughts or input on pros and cons?